My university has three campuses. Two are very close together, in the same town in fact (about a 10 minute walk apart). Most of the main university buildings are on the larger of the two, with the smaller one containing a few department buildings (e.g. Law and Business) and another library. The third campus is halfway round the world in the Southern Hemisphere.
To the best of my knowledge, you can study for a degree on any of the three campuses and your degree will only state the name of the university, not the campus you studied on (which is only of administrative importance and not relevant to what you studied). You even state this yourself in your question:
"...you get the same degree as the partner University students."
I would not worry about the value of the degree if studied for at a separate campus. The university itself should ensure that academic standards are maintained across all its campuses, including those abroad, as if they did not this would only devalue the degrees they offer.